Google Pay integrates Wise to enable remittances from US to Singapore, India

Global fintech startup Wise announced the integration of its platform to Google Pay, allowing users to send money to their friends within the Google Pay app and access Wise’s services.

Photo credit: TransferWise

The Wise platform enables banks, businesses, and software companies to tap into the startup’s network, giving them and their customers an easier avenue for making international payments. According to Wise, its technology is now being used by banks and businesses in over 10 markets.

The initial launch of its partnership with Google makes it possible for Google Pay users in the US to send money to users in India and Singapore. For new customers, Wise said it will make the first transfer free on transactions up to US$500 until June 16.

“Cross-border payments are not just a lifeline for loved ones; they form the financial backbone for many economies,” said Josh Woodward, director of product management at Google Pay. “For many people with families abroad, sending money home is something they do as frequently as every month.”

According to data from The World Bank, India is currently the top remittance destination. Meanwhile, Ken Research data shows that international inbound remittances in Singapore have been steadily increasing since 2013.

A global rollout of the new feature is slated for later this year, Wise said in a statement.